Home / Knowledge / News / Textiles / Itema-Barco confirm their intention to finalize the BarcoVision agreement
Itema-Barco confirm their intention to finalize the BarcoVision agreement
15
Apr '08
In July 2007 Barco signed an agreement for the acquisition of its division BarcoVision by Itema group from Bergamo, Italy, pending the approval of antitrust authorities. The antitrust commissions of China, Turkey and Brazil have already approved the transaction.

Today the antitrust commission of the European Union communicated that it will initiate a phase 2 investigation during which it wants Itema to further clarify certain aspects of the transaction.

The commission's decision also postpones the closing of the divestment of BarcoVision.

This, however, does not change the intention of both Barco and Itema to go ahead with the agreement and finalize the acquisition in the nearest possible future. In this respect Barco and Itema have extended the deadline for the closing of the transaction till 30 September 2008.

As Barco has communicated before, after the closing of the transaction with Itema the board of directors will call an extraordinary general shareholders meeting to propose a capital reduction to the amount of euro 70 million.

Barco, a global technology company, designs and develops visualization products for a variety of selected professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and Asia Pacific.

Barco

Must ReadView All

Textiles | On 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search